The biggest risk to asset prices and the global economy would be if the most powerful institutions reduce their monetary stimulus at the same time.
For Mohamed A. El-Erian's latest contributions to The Japan Times, see below:
Big shocks to the landscape, including the operating context for both incumbents and disrupters, require adaptations that can be — and often are — inherently complex.
Uber has delivered a much-needed wake-up call to London's taxi industry.
Insights from Turkey's referendum add to the possibility of a victory by one of France's unconventional presidential candidates.
Japan's experiment with negative interest rates suggests the need for even greater qualifications to the already cautious assessments of unconventional monetary policies.
Applying Nash's game theory to the Greek crisis shows that the best we can realistically expect is yet another attempt to postpone painful decisions.